MIRA
INFORM REPORT
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Report Date : |
23.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
INTERNATIONAL
FOREIGN TRADING CO |
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Registered Office : |
18 Horreya
Avenue, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1982 |
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Com. Reg. No.: |
1311444, Alexandria |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import
and distribution of general merchandise, including chemical products,
computers and related accessories, and motor vehicles. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Maximum Credit Limit : |
US$ 600,000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : INTERNATIONAL FOREIGN TRADING CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1982
Commercial Registration Number : 1311444, Alexandria
Issued Capital : £E 10,500,000
Paid up Capital : £E 10,500,000
Total Workforce : 60
Line of Business : Import and distribution of general merchandise.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
INTERNATIONAL
FOREIGN TRADING CO
ADDRESS
Registered & Physical Address
Location : 18 Horreya Avenue
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4843264 / 4855859
Facsimile : (20-3) 4843264
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Alexandria.
Branch Office (s)
Location Description
·
Alexandria
Free Zone Rented
warehouse premises
Alexandria
KEY PRINCIPALS
·
Mohamed Abd El
Fattah Ragab Managing
Partner
·
Abd El Fattah
Ragab Partner
·
Alaa Ragab Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1982
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 1311444,
Alexandria
Issued Capital : £E 10,500,000
Paid up Capital : £E 10,500,000
Name of Partner (s)
·
Mohamed Abd El
Fattah Ragab
·
Abd El Fattah
Ragab
·
Alaa Ragab
AFFILIATED COMPANIES
·
Ragab Export
& Import
18 Horreya Avenue
PO Box: 736
Alexandria
Tel: (20-3) 4841099 / 4843265
Fax: (20-3) 4846831 / 4843264
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
general merchandise, including chemical products, computers and related
accessories, and motor vehicles.
Import Countries
: South Africa, Japan and
the United States of America.
Operating Trend
: Steady
Subject has a
workforce of 60 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency : Egyptian
Pounds (£E)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue £E 20,370,000 £E 21,500,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
National Bank
of Egypt
21, Tosson Street
Alexandria
Tel : (20-3) 4824802 / 4825715
·
Commercial
International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel : (20-3) 4824643 / 4834255
Fax : (20-3) 4832240
·
National Bank
of Abu Dhabi
Nile Tower, 18th Floor
21, Giza Street
Cairo
Tel : (20-2) 3609724
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction September 2004
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
International
Foreign Trading Co has been in business for approximately 25 years and is engaged
in the import and distribution of general merchandise, such as chemical
products, computers and related accessories, and motor vehicles.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
Maximum suggested
credit figure: US$ 600,000
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)